Ofgem

/ ˈɒfˌdʒɛm /

noun

1. Office of Gas and Electricity Markets: a government body formed in 1999 by the merger of the separate regulatory bodies for gas and electricity; its functions are to promote competition and protect consumers' interests

Example Sentences

Energy costs are up 2% from Wednesday for millions of people in England, Wales and Scotland as regulator Ofgem's latest price cap come into effect.

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Ofgem's cap sets the maximum price that can be charged for each unit of gas and electricity.

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Ofgem's most recent data, which covers the period from April to June, shows that more than one million households have no arrangement to repay the debt to their suppliers, a record high.

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Ofgem wants to establish a fund called the Debt Relief Support Scheme, which suppliers could use to write off debt that is so significant it will never be paid back or help pay off what is owed by "debt matching" customer payments.

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Energy regulator Ofgem says the energy costs are rising because transporting energy has become more expensive, and because the government needs to cover the cost of its energy policies.

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